PacWest Bancorp (PACW) to Release Earnings on Thursday

PacWest Bancorp (NASDAQ:PACWGet Rating) will be announcing its earnings results after the market closes on Thursday, January 26th. Analysts expect the company to announce earnings of $1.01 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

PacWest Bancorp Stock Down 2.2 %

PACW stock traded down $0.56 during trading on Tuesday, reaching $25.26. 1,011,158 shares of the stock were exchanged, compared to its average volume of 1,292,104. The firm’s 50 day moving average is $24.16 and its 200 day moving average is $25.31. PacWest Bancorp has a twelve month low of $21.29 and a twelve month high of $51.81. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The firm has a market cap of $2.98 billion, a P/E ratio of 6.03 and a beta of 1.41.

PacWest Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Monday, November 14th. PacWest Bancorp’s dividend payout ratio (DPR) is currently 23.87%.

Insider Activity

In other news, CEO Matthew P. Wagner sold 66,659 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $26.24, for a total value of $1,749,132.16. Following the completion of the transaction, the chief executive officer now directly owns 1,003,086 shares of the company’s stock, valued at $26,320,976.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other PacWest Bancorp news, CEO Matthew P. Wagner sold 66,659 shares of the stock in a transaction on Friday, November 25th. The stock was sold at an average price of $26.24, for a total transaction of $1,749,132.16. Following the completion of the transaction, the chief executive officer now directly owns 1,003,086 shares of the company’s stock, valued at $26,320,976.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew P. Wagner sold 17,725 shares of the stock in a transaction on Friday, December 9th. The shares were sold at an average price of $24.18, for a total value of $428,590.50. Following the transaction, the chief executive officer now directly owns 985,361 shares of the company’s stock, valued at $23,826,028.98. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PacWest Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new position in PacWest Bancorp in the 3rd quarter worth about $371,000. State Street Corp boosted its position in shares of PacWest Bancorp by 6.8% in the third quarter. State Street Corp now owns 6,052,819 shares of the financial services provider’s stock valued at $136,794,000 after acquiring an additional 386,532 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of PacWest Bancorp by 1.3% in the third quarter. Public Employees Retirement System of Ohio now owns 65,825 shares of the financial services provider’s stock valued at $1,488,000 after acquiring an additional 828 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in PacWest Bancorp by 618.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 137,677 shares of the financial services provider’s stock valued at $3,112,000 after acquiring an additional 118,517 shares in the last quarter. Finally, Twinbeech Capital LP bought a new stake in PacWest Bancorp during the 3rd quarter worth approximately $218,000. 91.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PACW shares. Piper Sandler dropped their price target on PacWest Bancorp from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, September 30th. DA Davidson lowered their price objective on PacWest Bancorp to $25.00 in a research note on Thursday, October 27th. Truist Financial downgraded PacWest Bancorp from a “buy” rating to a “hold” rating and set a $26.00 price objective for the company. in a research note on Friday, December 9th. Royal Bank of Canada lowered their price objective on PacWest Bancorp from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. Finally, StockNews.com downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.11.

PacWest Bancorp Company Profile

(Get Rating)

PacWest Bancorp is a bank holding company, which specializes in financial and banking solutions. It offers commercial banking services including real estate, construction, commercial loans, comprehensive deposit, and treasury management services to small and middle-market businesses through the Pacific Western Bank.

Further Reading

Earnings History for PacWest Bancorp (NASDAQ:PACW)

Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.